Al-Dawaa Medical Services Company has filed for voluntary liquidation of its subsidiaries located outside the Kingdom of Saudi Arabia.

In a filing with the Saudi Exchange, the healthcare and retail pharmacy chain said it has commenced the closure and liquidation of Hollinz GmbH and Ronzak GmbH in Germany, as well as Glanzzen FZ- LLC and Al-Dawaa Medical Services FZ-LLC in Dubai.

The decision aligns with the company’s strategy to consolidate all its operations within the KSA under the company’s entity.

Management said the moves are in line with the company’s commitment to Saudi Vision 2030, which aims to strengthen the Kingdom’s leading regional position as a business hub, support the localisation of business activities, and enhance local content.

The firm noted the decision would not have any material impact on its financial position or operational cash flows.

Launched in 1993, Al-Dawaa is one of the leading healthcare companies in the KSA. It began trading as a public company in March 2022.

As of October, the chain operated more than 900 pharmacies across the Kingdom.